LI firm secures $20M shopping center loan

Westbury-based Kalikow Group and a Connecticut partner have secured a $20 million refinancing loan for their Staten Island shopping center.

The Kalikow Group and New Canaan, Conn.-based Feldco Development received the seven-year loan from Bethpage Federal Credit Union for the 94,000-square-foot Expressway Plaza on Richmond Avenue in Staten Island, according to a company statement.

Originally built in 1997, Expressway Plaza is anchored by a 60,000-square-foot Stop & Shop supermarket. Other tenants at the retail center include Dunkin’ Donuts, Sleepy’s, New York Community Bank and Subway. Buffalo Wild Wings and Applebee’s occupy the center’s two pad sites. The owners also recently signed a 10-year lease with Northwell Health to occupy 2,200 square feet there.

“This strategic refinance took advantage of a lower rate that would yield us a greater return while providing funds to enhance the center,” Ed Kalikow, president of The Kalikow Group, said in the statement.